On April 15, 2022, we had StealthEX & HIVE Blockchain AMA Session in our Telegram Community Chat, and here’s a recap. Simply take some time to learn by way of and study the whole lot you want about HIVE cryptocurrency.
We thank everybody for becoming a member of us at the moment! We’re delighted to be joined by Reese (@murtherx), liable for World Outreach & Operations at HIVE 🙌
As ordinary, we’ll kick off the AMA with a sequence of questions from Twitter, with the chat being turned off. As soon as that’s accomplished, I’ll flip the chat again on for a number of moments to will let you ask your personal questions.
Reese: Good to be right here.
Ben Frost, StealthEX: It’s good to see you right here! With out additional ado, are you able to get began? The questions are in no specific order
Reese: Let’s do it.
Questions from Twitter
Q1: Bearing in mind the increase of splinterlands and assuming that one other mission, not the primary one, has the same increase, what would Hive supply to those new customers of particular niches in order that they know and reap the benefits of the remainder of the platform?
Reese: Many customers who first created their Hive accounts after getting their begin with Splinterlands have been a bit misplaced within the ecosystem, having not realized the magnitude of it and what number of video games and dapps there are. Every part to do with one thing as giant as Hive is a studying course of and we do have many beneficial locations to obtain steering, resembling on our many Discord chats (there are nicely over 100), Telegram after all, documentation, and blogs. We absolutely count on there to be quite a few dapps like that which change into an enormous draw. There’s one launching on Hive shortly (known as Ragnarok) which has the potential to rival the draw of Splinterlands. Since Hive is scalable and fee-less, we are able to welcome all such initiatives and the customers they entice.
Ben Frost, StealthEX: Oh, I’m already conscious of Ragnarok, wanting ahead to it! Additionally wanting ahead to the explosion of dapps as an entire!
Q2: Being a fork, its code relies on the model of Steem obtainable on the time of the division, might you point out any notable adjustments???
Reese: When the hostile takeover came about and we had no selection however to fork the unique Steem chain to be able to guarantee there’s a decentralized and public continuation of it (the unique was privatized), our builders have been shocked on the state of the code and the way a lot needed to be optimized and repaired. Since then, we’ve made enhancements to governance and different important features in addition to to functionalities regarding layered options and scaling. It’s an excessive amount of to listing in right here however the lists of changes are available on our blog in our HF (hardfork) posts or on our lead development team’s blog. Normally, Hive may be very completely different now from how it began and is designed for ease of integration.
Ben Frost, StealthEX: Typically hardships make the ultimate product even higher than imagined, I believe that you’ll proceed honing Hive 💪
Q3: Is it true that Hive has testimonies of fixing lives economically in international locations in disaster resembling Venezuela, Nigeria, Africa, and so on? Why is that this taking place?
Reese: Sure it’s true and it’s taking place as a result of Hive neighborhood members who stay in these areas are harnessing the facility of Hive to help their very own lives and rework these of others. Simply yesterday we put out an article a few native mechanic in Venezuela who began accepting HBD at his store. The store was on the snapping point previous to that, now it’s again open and operating. Here is his story. There’s additionally a suburb in Ghana which is having a nicely for water constructed and development must be accomplished later this week, additionally supported by a area people member from Hive who noticed that individuals needed to stroll a mile to get potable water. One other particular person from Nigeria is fixing one other nicely in a village after discovering it was damaged for a yr and other people had no cheap water entry. These are only a few tales which can be outstanding this week, however many people from areas all around the planet are discovering their alternative to alter their lives on Hive and to alter the lives of their neighbors. The reply as to why is straightforward: Hive is welcoming and anybody can take part and obtain what they goal. There aren’t any boundaries and no ‘most well-liked customers’ resembling on another platforms. Everyone seems to be equally welcome on Hive.
Ben Frost, StealthEX: Wow, these are some actually highly effective tales. Makes you reappreciate the influence crypto is making on the world, particularly on some communities that need assistance essentially the most.
This fall: My query is Hive is a good ecosystem that hasn’t completed rising, however one among its nice sights is that customers can create content material. Now, what have they got to supply a content material creator, what’s the attraction of HIVE BLOG to hunt expertise?
Reese: We don’t hunt expertise. We worth the contributions of all people equally and it’s as much as the opposite neighborhood members as as to if the contribution is evaluated extremely or reasonably. Hive permits for the timed monetization of posted content material with 7-day window. What which means is that you just put up a weblog, folks will curate it by voting up and down, and on the finish of the 7 days the weblog arrives at its ultimate worth. Content material creators (any particular person) obtain 50% of the worth of every weblog put up or remark and the opposite 50% will get break up proportionally between curators. Hive does require folks, naturally, due to its robust neighborhood, to have interaction with others on it. That signifies that somebody who simply crossposts to Hive whereas probably not participating, will do far worse than somebody who genuinely involves Hive and needs to get to know others and showcase their very own writing, artwork, music, and so on. What we provide is a robust neighborhood and community of help; one thing everybody can recognize.
Ben Frost, StealthEX: I’ve visited the HiveBlog on quite a few events, and I’ve to confess that it’s a nice product. The monetization is honest and clear, I’m 100% certain that the viewers will develop organically.
Q5: I need to ask, what’s the aggressive benefit of #HIVE? What do you may have over different rivals? About options resembling safety, scalability, neighborhood growth, do you assume you’ve completed or have to proceed to develop?
Reese: We’re secure in each regard. You don’t have to fret whether or not there might be a rug-pull or whether or not all traders will simply determine to pump and dump HIVE and HBD. Or that one disaster will fully wipe out Hive. Resulting from our decentralization now we have built-in stability that’s supported not solely by the geographic unfold of our key applied sciences and technical neighborhood members working it but additionally by a longtime and dependable neighborhood. Proper now now we have approx 2.5 mil wallets on Hive. We’re in pleasant competitors with others with rising ecosystems, resembling Ethereum for example, however we typically help all within the Net 3 area and hope that by selling our distinctive options we are able to form a greater future. We’re distinctive; we’re extremely scalable, our transactions are fee-less and depend on replenishable useful resource credit reasonably than hefty charges, our block occasions are 3 seconds and now we have myriad options for straightforward entry to info and integration resembling the brand new HAF (Hive Software Framework). We’re positively not completed with something and we’ll proceed to optimize and enhance. The second any blockchain stops steady enchancment it begins to fall behind and to stagnate. Hive doesn’t play that recreation. We repeatedly re-evaluate what we’ve achieved and persist with our evolution.
Ben Frost, StealthEX: Very nicely put! I believe all of us are collectively rooting for the collective success of crypto, and the benefits of hive blockchain are arduous to gloss over.
Q6: Are you able to present me $HIVE token distribution? What are the extra advantages of holding $HIVE tokens over people who don’t maintain $HIVE tokens and are there additionally any advantages for long-term holders?
Reese: Sure, now we have quite a few neighborhood members who publish common updates in respect to the distribution. Here is one report from yesterday. Those that stake HIVE by powering it up (which converts it to Hive Energy with out affecting its integrity) are in a position to additional develop their stake by taking part within the curation of posted content material. I discussed earlier that curators break up 50% of all put up/remark rewards. Those that curate nicely and persistently, choosing invaluable content material which is of excellent high quality and unique, earn fairly a bit by way of it. It may be a profitable alternative and it’s also emotionally-satisfying as it’s participating. Our stablecoin HBD (pegged to the US Greenback) additionally has a financial savings account function with a variable APR. The APR is set by the neighborhood by way of its governance mechanism. It’s at present set to twenty%. What which means is that should you place $1,000 into your account at the moment, a yr from now you should have $1,200. The HBD has been stored secure and it may be seen as a dependable hands-off funding.
Here are some additional statistics from the identical analyst. These are additionally present to yesterday.
Ben Frost, StealthEX: Great, I like the clear and analytical strategy. I’m certain the neighborhood will try the information!
Q7: For each traders and customers, the platform should be wonderful Integrity necessitates openness and trustworthiness. Inform us extra about your transparency (resembling staff members) and your safety measures. Is your platform at present being audited?
Reese: Hive is absolutely clear to some extent the place any particular person or group can independently audit it and confirm the whole lot on it with none boundaries or particular info. We’ve various block explorers the place anybody can see the content material of the blocks and transactions (take the primary weblog account for instance). One doesn’t want any particular data to discern the transactions. Our staff members are merely neighborhood members. There aren’t any official roles. With my roles, should you notice, I didn’t label myself as a Director or C-something. I merely have a process that I have interaction in and take duty for. It’s because Hive will not be an organization or group and it doesn’t have any staff. Anybody could be part of the staff by way of their open supply contribution and you’ll see many contributors should you take a look at our Gitlab for example. In respect to our safety measures, now we have each on-chain governance associated measures to stop one other 51% assault which result in the creation of Hive. That is achieved by way of delays in governance and limits to discourage malicious actors. There are additionally tiered keys with staggered permissions, restoration (roll-back) risk for compromised accounts, change timers and so forth. Many security measures are merely constructed into the final performance of the chain. As well as, now we have developed various safe authentication providers resembling Hivesigner and Hive Keychain that are integrated in all trusted Hive-based dapps to permit customers full management and peace of thoughts over their wallets. We even have many frontend-focused options centered on mitigating the phishing makes an attempt that are frequent in all of crypto. There are sturdy community-based initiatives in the direction of that resembling Hivewatchers and their position is to make sure that we are able to preserve our ecosystem resilient in the direction of exploitation and malicious events. We recurrently give attention to private safety consciousness for our neighborhood members. We have no idea of any present audits by established organizations; that being mentioned, now we have continuous audits by our personal neighborhood as people see match at their very own discretion. That’s what transparency is all about.
Didn’t notice that was a protracted block of textual content! A lot to say about safety, which may be very prominently centered on at Hive.
Ben Frost, StealthEX: No, that’s nice, precisely what individuals are wanting ahead when asking the questions on safety! Very thorough 🙂
Q8: Might you give us an summary of the tokenomics? Is the token designed to rise and fall with the success of the platform, and does it embrace any shortage paths resembling stake, retailer, or burn?
Reese: Hive has a reducing inflation price and is designed to lower by 0.01% each 250,000 blocks. That is approximated at about 0.5% on an annual foundation and goes till it reaches 0.95%. Out of the inflation itself, a portion is utilized to compose the reward pool from which all posting and curation rewards are drawn from (that is 65% of the inflation), and the rest is used for different funds resembling our DHF (Decentralized Hive Fund) and so forth. HIVE has to this point had ups and downs with the final tendencies of crypto normally but it surely has weathered the bear market and overcome challenges reasonably nicely, being seen as a secure funding even throughout unstable occasions. It’s because, as I discussed earlier, it’s naturally proof against pump and dumps and a rug-pull is unattainable. We don’t artificially arrange a burn however many neighborhood members burn on their very own. As well as, creating paid accounts on Hive results in the account prices to be burned — right here is simply one article about the Splinterlands craze leading to a serious burn over 2021.
Ben Frost, StealthEX: As soon as once more, a simple and clear reply to the query from our neighborhood, fantastic 🙌
Q9: Are you able to share us Partnership of Hive you possibly can describe to this point? Do you may have plan to kind extra strategic partnership sooner or later?
Reese: It is a arduous one as we kind lots of partnerships. For instance, now we have established partnerships with fellow DPoS chains Telos, Scorum and Peerplays. For these , we really coated a lot of them in our current 2 year anniversary article.
Hive welcomes partnerships that are with like-minded initiatives or service suppliers which can be centered on the beliefs of Net 3, on transparency and decentralization, and which goal to construct whereas putting the consumer first. We consider in constructing robust bridges with others. We additionally welcome any such integrations. Many dapps which began their life on different chains find yourself Hive as we’re a extra welcoming real-estate to construct on; we’ll see extra bulletins to that regard quickly. Normally, anybody who’s seeking to associate with Hive ought to attain out to myself and I might be comfortable to help them.
Ben Frost, StealthEX: An exquisite conclusion to the very insightful spherical of Twitter questions!
Now, I’ll flip the chat on for a number of moments to let the questions from the chat accumulate, after which flip it again off. Simply choose a number of questions you want essentially the most and take your time to answer.
Q1: Are you a world mission or native mission? At current, which market are you give attention to, or is it centered on constructing and rising to realize clients, customers and companions?
Reese: We’re a world mission. Hive builders, customers, node operators (known as witnesses) and everybody else concerned in Hive are unfold out all around the world. If we simply give attention to node operators and builders, off the highest of my head, they’re in Canada, US, Turkey, Mexico, Germany, France, Australia, Nigeria, India, and so forth. Hive will not be based mostly in anyone jurisdiction or geographic space nor will it ever be or might be.
Q2: Are you able to share your social media hyperlinks so we are able to preserve ourselves up to date?
Reese: These could be discovered on the backside of hive.io
Q3: Is that this your mission just for elite traders, How about others with small funds, is it open to everybody?
Reese: Hive is for everybody. You don’t want to make any funding in any respect to joint he ecosystem; it’s a gateway to crypto. One can merely create a free Hive account (donated by different neighborhood members) and develop their stake from nothing by posting and getting concerned. Hive consists of many varieties and sizes of traders and stakeholders; all are invaluable and all are welcome
This fall: Do you may have any large promotion happening Or any occasion? And what are your mission roadmap plans for upcoming occasions??? Thanks.
Reese: There are numerous native occasions put collectively by neighborhood members. To maintain up with them is nearly unattainable besides by diligently following others and studying HIVE BLOG, PEAKD or Ecency to that finish.
Q5: Did you think about neighborhood suggestions/requests through the creation of your product to be able to broaden on recent concepts in your mission? Many initiatives fail as a result of the audience and purchasers are usually not understood. So I’d prefer to know who your superb shopper is in your product?
Reese: Our mission was created by the neighborhood. We’re all neighborhood members, 100%.
Q6: Is your mission a neighborhood just for English talking an international locations? Or for customers not of others languages?
Reese: We’re not an English mission. Most of our neighborhood members communicate English as a second language really. Content material is welcome and is printed in lots of languages from Tagalog to Urdu.
Q7: I’m to spend money on your mission. When and the place can I purchase your tokens?? Is it already listed exchanges??
Reese: You should buy it proper right here at StealthEX!
Q8: The event of Hive and its ecosystem is sustained by way of the DHF; Decentralised Hive Fund, are you able to clarify extra about this FUND, how do you safe this fund and what’s your Enterprise Mannequin
Reese: Glorious query. The DHF is a proposal-based mechanism the place by way of governance engagement a set of proposals get funded. The way in which it really works is the person proposal proprietor writes their overview and requests a certain amount of HBD (pegged to the USD) over a set timeframe at their very own discretion. The neighborhood stakeholders vote to help the proposal. As soon as it reaches a sure threshold, it’s permitted. If it doesn’t attain that threshold, it’s unfunded and the proposal proprietor can merely attempt once more after pondering on why their proposal was rejected. Neighborhood members are all the time comfortable to offer suggestions. Here’s a list of the current proposals, each funded and unfunded.
Ben Frost, StealthEX: And that was it! Big thanks to @murtherx for taking the time of his day to enlighten us with the whole lot happening with Hive. I believe I communicate on behalf of everybody saying that it was an insanely informative and insightful look into the interior workings of the mission.
I’ll positively go and take a look at all of the sources you may have offered proper after this!
Additionally, simply as not too long ago talked about, you possibly can swap $HIVE on StealthEX exchange platform.
And as soon as once more large due to Reese for a stunning AMA and all the data 🙂
Purchase HIVE Crypto Coin?
Simply go to StealthEX and comply with these simple steps:
- Select the pair and the quantity in your trade. For instance, BTC to HIVE.
- Press the “Begin trade” button.
- Present the recipient handle to which the cash might be transferred.
- Transfer your cryptocurrency for the trade.
- Obtain your crypto cash!
When you’ve got remaining questions in regards to the StealthEX trade service you possibly can go to our FAQ section and discover all the mandatory info there.
We’re all the time prepared to offer you help if in case you have any points with exchanging cash. Our staff does our greatest to guard all members and reply their questions. For all requests message us by way of [email protected]
You might be greater than welcome to go to StealthEX exchange and see how briskly and handy it’s.